Intro -- Contents -- Preface -- 1. Capitalist Diversity in Open Economies -- 2. Governments, Business, and the Design Problem -- 3. Three Models of Open Governance -- 4. Britain: From Replacing to Reinforcing a Liberal Market Economy -- 5. France: The Centralized Market Economy and Its...

We prove that the change in welfare of a representative consumer is summarized by the current and expected future values of the standard Solow productivity residual. The equivalence holds if the representative household maximizes utility while taking prices parametrically. This result justifies...

We prove that the change in welfare of a representative consumer is summarized by the current and expected future values of the standard Solow productivity residual. The equivalence holds if the representative household maximizes utility while taking prices parametrically. This result justifies...

We prove that the change in welfare of a representative consumer is summarized by the current and expected future values of the standard Solow productivity residual. The equivalence holds if the representative household maximizes utility while taking prices parametrically. This result justifies...